Centrepoint introduces fee model for part-time advisers

fees advice advisers financial advisers

27 April 2021
| By Mike |
image
image
expand image

The competition between licensees to attract good financial advisers amid continuing the continuing adviser exits is heating up with Centrepoint Alliance announcing a new fee structure aimed at attracting those who choose to work part-time.

Flagging the move as breaking new ground, Centrepoint group executive advice, Paul Cullen, pointed to recent Roy Morgan research showing part-time work is a growing trend notwithstanding the fact that financial advice has not traditionally been viewed as a part-time profession.

He said financial advice was no different to any other occupation and that advisers should be entitled to be supported by their licensee if they required flexible work arrangement to balance work and family commitments.

Cullen said he had noted increased demand for part-time opportunities within the advice sector in recent years, particularly with respect to working parents and those with carer responsibilities.

The new Centrepoint fee model is available to financial advice firms with more than one authorised representative with variable costs including governance and research queries along with technical and compliance support being pro-rated according to the number of days worked.

As well, the planning group is offering advisers taking maternity or paternity leave the ability to suspend fees for up to 12 months or pay a reduced fee if they wish to retain access to masterclasses and webinars and to complete their continuing professional development requirements.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Interesting. Would be good to know the details of the StrategyOne deal....

3 days 23 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 2 days ago

increased professionalism within the industry - shouldn't that say, FAR register almost halving in the last 24 months he...

4 weeks 1 day ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 3 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

2 days 21 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

2 days ago